Are you a financial coach looking to help your business owner clients navigate the complexities of paying themselves? Many business owners struggle with separating their personal and business finances, leading to cash flow issues and difficulty in determining a proper paycheck. As a financial coach, your role is crucial in helping them untangle this web and establish a solid foundation for growth.This episode is the third in a three-part series about financial coaching for your business clients. We’ve talked about separating business and personal finances and determining a tax estimate.This week, we’re digging into the most important next step: how to pay yourself as a business owner.Implementing a solid financial management system with clients is essential to long-term success and we’ll walk through what that looks like, step by step. This includes looking at how to determine what a client needs to pay themselves and how to leverage the business’s revenue to do just that.From refining payment methods and tax strategies to analyzing pricing models and developing growth plans, you'll have a toolbox full of techniques to help your clients thrive.So, if you're ready to take your financial coaching to the next level and empower your business owner clients to pay themselves with confidence, this episode is for you. Tune in now and discover the secrets to unlocking financial success for your clients!Links & Resources:Join our free Facebook group!Ultimate Growth GuideGet your financial worksheets here

Be sure to catch the whole series on financial coaching with business owners.As a financial coach, I've witnessed firsthand the chaos and stress that can arise when business owners intertwine their business and personal finances. By guiding clients through the essential step of separating the two, we lay the foundation for financial clarity and strategic decision-making.This week on the podcast, I walk you through the line-by-line analysis of personal and business financial worksheets (link below!), highlighting common expenses that often blur the lines between the two. From cell phone bills and vehicle expenses to health insurance premiums and tax filing fees, we explore the nuances of categorizing these costs effectively.One of the key takeaways is the importance of determining the business owner's necessary paycheck amount to cover personal expenses. This figure serves as a starting point for creating a structured financial plan that alleviates the overwhelming pressure many entrepreneurs face.We also touch on the delicate balance between the cash flow of a business and the tax deductibility of expenses, emphasizing the significance of seeking guidance from a trusted accountant. By collaborating with tax professionals, we can ensure that our clients are making informed decisions and optimizing their financial strategies.Throughout the episode, I share insights and tips to help financial coaches navigate this process with their own clients. By meeting business owners where they are and providing clear, actionable advice, we can empower them to take control of their finances and build a solid foundation for long-term success.Whether you're a seasoned financial coach or just starting your journey, this episode is a must-listen. Join me as we explore the transformative power of separating business and personal finances and discover how you can guide your clients towards financial clarity and peace of mind.Links & Resources:Ultimate Growth GuideGet the financial worksheets here!

Are you tired of seeing small business owners struggle to pay themselves consistently? As a financial coach, it's crucial to provide practical, real-world advice that goes beyond manifestation fluff and the hyper-focus on making money. Instead, the key is to help your clients understand their business finances and create a clear separation between their business and personal expenses.Introducing this concept early in the coaching process with business owner clients is essential. By separating business and personal finances, you can provide clarity on the business's financial situation and offer more specific strategies and coaching. Something I walk through, step by step, in this week’s video. Getting into the mind of your client is crucial. Business owners often express challenges like not having enough clients or needing to control spending, but the actual problem may be unclear due to the commingling of business and personal finances. By following a three-step process, which you’ll learn here, you can help your clients gain a foundational understanding of their business and strategize solutions.Links & Resources:Episode 47 - Navigating the Client JourneyCashflow Planning and Control for Small Business Owners - scroll to the bottomEpisode 39 - Your Financial Crystal Ball: The Plan Ahead Method90-day Financial Coaching Program Toolkit

Sometimes it’s people outside our industry who have the biggest impact on how we grow and develop our values and our businesses. This is true for me, and this week I’m sharing more about the person who has helped shape how I conduct business and work with clients every day.In this week’s episode, I’m sharing how Bryan Stevenson -- the renowned lawyer, activist and author behind Just Mercy and the Equal Justice Initiative -- ended up becoming one of the most influential figures on my financial coaching philosophy and methods.While Stevenson's work confronting injustice in the criminal justice system may seem unrelated to money, his ideas around the power of proximity, leading with empathy, instilling hope in suffering, and fighting for human dignity have transformed how I view my role and approach clients.In the episode, I’m exploring the key lessons from this modern-day hero that became foundational pillars, such as intimately understanding people's struggles for true impact, seeing the full nuanced humanity in each person, and making justice and restoration my driving mission.You'll hear how Stevenson's philosophy allowed me to shed limiting beliefs to find the courage to offer transformative high-level and high-touch support.By the end, you'll understand why this visionary activist, despite having no direct finance ties, became one of my most influential mentors for creating meaningful, lasting impact.Links & Resources:Cash Flow Planning and Control for Small Business Owners (scroll to the bottom)Ten Percent Happier: How to Keep Going When Things Get HardWe Need to Talk About Injustice TED TalkTrue Justice: Bryan Stevenson’s Fight for Inequality documentaryThe Power of Proximity CEO InitiativeFinancial Coaches Unite Facebook group

I don’t usually play favorites, but this topic is one of them. Probably because I’m someone who wasn’t celebrating my own wins… I was just moving on to the next goal. And, if your clients are like me, this can be a long-time habit that they’re not even totally aware of. This is often the case when you’re coaching someone who holds themselves to a very, very high standard. They’re not not celebrating… but they did it, and they still have farther to go, so they need to get going. No time to waste. As a great financial coach, you already know how important acknowledging the wins that your client achieves — not just saying “okay, that’s done,” but actually celebrating. Join me as we discuss how to help your clients who may feel like “celebrating” is the same as “yup, checked that off the list” see the difference and start FEELING their success

This week we’re looking at the transformative concept of the Financial Progress Number, a journey at the heart of helping clients create true transformation in their finances. This touches on something deeply personal and empowering for each client, tracking their financial health and making it relatable to them.The idea for this topic comes from the idea of a savings rate, which isn’t very intuitive for most clients. So in this episode, I’m redefining the savings rate in a way that makes sense for even your most resistant or frustrated client. We'll walk through calculating the Financial Progress Number, making the process accessible and empowering, even for business owner clients facing unique financial challenges.The core of our discussion focuses on the potential for improvement and the actionable steps toward making meaningful changes. Understanding and enhancing savings rate can significantly impact your clients’ financial well-being.Whether you’re a financial coach looking to deepen client relationships, a business owner aiming for financial growth, or someone curious about financial planning's potential, this episode offers valuable insights. Listen in to explore the Financial Progress Number and see how it can change your approach to financial health and progress.Links & Resources:Episode 17: Financial Coaching 101Get your Savings Rate Calculator & HandoutFederal Savings Rate

If you’ve ever felt like there’s not enough time to get everything done in your financial coaching business, you’re not alone. Starting a business is tough, especially when you're trying to do it on the side of a 9-to-5. This week on the podcast, we're sharing some golden nuggets on how to efficiently split your time between the essential tasks: working ON your business, snagging those crucial clients, delivering knockout coaching sessions, and keeping your own learning game strong. Plus, we've got a killer time allocation strategy that’s perfect for anyone in the early stages of their coaching journey.We're challenging the notion that more hours equals better results. With our practical tips, you can make those precious hours count, focusing on what truly moves the needle in your business.From the must-do client attraction activities to avoiding the common pitfalls that trap new coaches, we're laying it all out there. And because we know how overwhelming it can be, we’re also sharing a list of key podcast episodes that are game-changers for upping your client game (you can check out the links to those below!).Links & Resources:Episode 49: The Power of a Financial Coaching ProgramSpecialty Toolkit: A 90-Day Financial Coaching ProgramUltimate Growth GuideEpisode 9: How Do I Get Clients as a Financial Coach? Episode 25: Building Trust in Financial Coaching with the Trust TriadEpisode 28: Why Aren’t You Getting More Clients?Episode 34: How to Talk About What You Do as a Financial Coach Episode 43: How to Get More Coaching Clients from Social MediaEpisode 44: Identify & Craft Your Why for Financial CoachesEpisode 52: Real Talk on Social Media for Financial CoachesEpisode 53: How to Get More Referrals from Your BNI MembershipEpisode 56: How to Use YouTube as a Marketing Strategy

Recurring revenue is a boon to your financial coaching business, and one way to achieve that is through a periodic coaching program…after your clients go through your initial program. But since the sessions are periodic, how do you go about pricing a program like this?Listen in to the podcast this week as I share with you the formula I use in my own coaching practice, Fiscal Fitness Phoenix. Pricing not only affects the sustainability of your coaching business but also reflects the value you offer to your clients. This look into pricing is about more than just numbers; it's about strategy, perception, and value. I dissect additional time considerations, including the often-overlooked aspects of client support between sessions, and how these elements contribute to your overall service package. This episode doesn't just tell you what to do; it equips you with the mindset and tools to navigate the complexities of pricing with ease and confidence.Listen in now!Links & Resources:Episode 49Episode 50Episode 51Ultimate Growth Guide

I’ve seen clients struggle with student loans since I first started financial coaching 15 years ago. And with all the recent changes in student loan forgiveness rules, I knew I wanted to share more on the podcast so coaches were better informed when working with clients.But I also knew my own limits. I’m not an expert in student loan forgiveness, David Gourley, a Financial Coach Academy® alum, is.This week on the podcast, David is sharing his knowledge on loan forgiveness, how to translate some of your student loan data, why some loans are being forgiven and others aren’t, why it’s important to take action, what to watch out for with your Parent PLUS loan, and more.Even if you don’t coach clients on student loan forgiveness, knowledge is power. Knowing where to turn for help or where to refer your clients to is incredibly important.Links & Resources:Teach Plan RetireConnect with David on LinkedInFollow David on X

You’ve been working HARD to grow your business: you’re consistently generating 6-figures in revenue. You’ve got a full (or nearly full) client roster. Financial Coaching is most likely your primary (or only) source of income. You’ve been putting systems and processes into place to make sure that pricing, naming, and marketing are consistent. You’re doing good…but you want to keep growing. And, if you want to level up, you’ve likely realized that the strategies and practices that got you to where you are, are not the same strategies that you need to reach your new, upleveled goals. You need to create leverage and figure out how to scale - but how? A group program? A course? Hire associate coaches? Find a business partner? Get paid to speak? Host in-person or destination events? The choices can be overwhelming, and often, we’re simply too close to see what needs to happen for our next steps.

There’s a lot of talk around YouTube and using it as a marketing tool for financial coaches. I use it as another place to distribute this podcast, but I’m far from an expert. So this week on the podcast, I invited Psy, a fellow financial coach and YouTube user to help me talk about who it’s for, how to get started, and what tools someone needs to use it effectively.Psy has been posting regular videos to YouTube for over two years now and has almost 30k subscribers as of this posting, so he knows a thing or two about using the platform to promote his financial coaching business…and has helped thousands of others along the way.If you’ve ever thought about starting to publish videos for your business, Psy just might give you the push you need!Links & Resources:FIRE Psy Chat

What does it really mean to be a financial coach in integrity with what we do? This week on the podcast, we’re tackling this head-on, talking about the realities behind what's often seen but seldom spoken about. It’s the challenges behind coaches coaching coaches (say that three times fast!) and staying in integrity with how we market ourselves and being open and transparent with clients.In this episode, you’ll hear some real-life examples of the vulnerable (and the ick) when it comes to coaches coaching coaches and I hope you hear my invitation to really think about your own role as a financial coach. How do you balance ambition with honesty? How do you navigate the complexities of scaling a business while staying true to your mission? These are just a few of the ideas you’ll hear, as well as my own answers to these questions.So, if you're curious about what it really takes to uphold integrity in financial coaching, if you're looking to find a balance between your financial acumen and your coaching spirit, or if you're simply seeking a heart-centered approach to this profession, this episode is for you.Tune in to discover insights that could redefine your approach to financial coaching. Trust me, you don't want to miss this one!Links & Resources:Episode 49: The Power of a Financial Coaching ProgramFinancial Coaches Unite

Ever wondered what's really moving in the financial coaching industry these days? If you’re in the thick of your business, working hard to grow, you may not feel like you have time to stay on top of how the industry is growing and changing.That’s what I’m here for! This week on the podcast, I’m sharing some of my own experiences--what I’m seeing and hearing in financial coaching. These are completely my opinion, not based on any industry stats. Just some real talk.I'm chatting about how financial coaches and advisors are working together now, and it's pretty exciting. There's also a big shift happening where people are starting to see money as more than just numbers – it's about our feelings and life choices too. Sounds about right!And, I've got some honest thoughts about different types of financial coaching companies. Some are great, some... not so much. Plus, you wouldn't believe how financial coaches are starting to pop up in places like banks.This episode is all about sharing what I've seen and learned, and maybe it'll get you thinking differently about our work. So grab a coffee, settle in, and give it a listen. It's just a casual chat about the stuff we deal with every day.Links & Resources:Episode 5: Can I Make a Living as a Financial Coach?Financial Coaching ToolkitThe Dream Manager by Matthew Kelly

Starting out as a financial coach, I quickly realized the power of networking. I joined BNI, a global networking group, and what I found (and learned) was invaluable. It wasn't just about the referrals, which were great, but also about mastering the art of networking and building enduring connections within the financial industry and the local community. This journey of mine has been filled with learning and growth, and I'm thrilled to share it with you.In this week's podcast, I’m sharing how to select the perfect networking group for your financial coaching business. I'll cover everything from identifying the right group and the key questions you should be asking, to strategies for effectively utilizing both your time and financial resources in these groups.Don't miss out on this episode – it's packed with insights and practical advice for making networking a cornerstone of your business success. Tune in today for an enlightening discussion!Links & Resources:Business Networking International

When you start your business, you often go in with rose-colored glasses. You have an unshakeable positive outlook…oftentimes because you just don’t know any better. And then things get real. Usually really fast. And what you thought your journey would look like feels like a long time ago. If you’ve felt this, you’re not alone - when I first started my business, I was incredibly naive - I imagined having consistent, predictable, steady growth year after year. I thought I’d simply create a product, offer it to my (obviously) thousands of raving fans, sell out immediately, lather, rinse, repeat. If only I’d realized how truly messy this whole business building journey can be (and still is). Looking back, the things I thought I wanted rapidly fell away, and I realized that what I actually wanted from my business was something entirely different.

Social media can feel overwhelming, frustrating, inspiring, and like a time-suck…all at the same time. As business owners, we need to come to terms with it and find out how it fits into our own lives and businesses. Instead of letting it rule us.This week on the podcast, I’m sharing more about the often-misunderstood world of social media from my own perspective. You’ll hear some real-life hits (and misses!) about how social media has impacted the way I do business.This episode is not just stories; it’s a journey to uncovering the true impact of social media in our field. I explore how easy it is to make snap judgments based on someone's online profile and question how this influences our perception of success, both of others and ourselves.Discover how setting boundaries with social media can lead to more meaningful interactions and why it's okay to chart your own path, even if it strays from conventional social media strategies.Tune in for an episode filled with honest reflections, practical insights, and a fresh perspective on leveraging social media for your financial coaching business. Whether you're a social media enthusiast or skeptic, there’s something in this episode for everyone looking to navigate these digital waters with confidence and authenticity.Links & Resources:Join the mailing list!

Are you coaching clients so they no longer need you? I think that’s a perspective that’s not good for the health and growth of your business. Client acquisition is one of the most time-consuming and expensive parts of working with clients. So if you’re constantly sending clients on their way after a few months of coaching, you’re doing a disservice to your clients, yourself, and your business.This week on the podcast, we’re wrapping up our Ultimate Growth Guide series by talking about what comes next in your client journey. Because there is, in fact, a next step.Money will always be there for your clients and as they work through their initial challenges and goals, new ones are bound to come up. And your clients will need help navigating those, too.Listen in as we explore what this might look like for you so you can wrap your mindset around this next step and create a business and life you love.Links & Resources:Financial Coach Academy®Client Creator Challenge

Imagine transforming your financial coaching practice from a part-time side hustle to a thriving, 7-figure business. This week on the podcast, I share my personal experiences and insights, taking you through the highs and lows of my journey and the lessons learned along the way. It's a story that's not just about success but about the real, gritty process of getting there.This episode is part of the Ultimate Growth Guide series, where I take you through the client journey step by step. Here we’re talking about what goes beyond the surface, offering strategies and wisdom that can reshape your approach to coaching.It’s important to go beyond the coaching sessions themselves. The art of effective offboarding is a crucial but often overlooked aspect of the coaching process. It's about leaving your clients with a sense of achievement and clarity about their financial future, a skill that every coach should master. And, of course, building an offer that comes next. Because your clients shouldn’t always need you to make their financial dreams come true.Tune into our latest podcast episode for a blend of personal stories, professional insights, and practical advice that will leave you motivated and equipped to transform your financial coaching journey.Links & Resources:Client Journey RoadmapClient Creator ChallengeUltimate Growth Guide Series

Creating next steps for your clients is essential to making the sale and growing your financial coaching business. This week, we’re taking the next step in our Ultimate Growth Guide series, focusing on the benefits of a structured coaching program for both coaches and clients.In this episode, you’ll learn more about what a coaching program is and how it's different from casual check-ins or basic courses. It's a comprehensive approach that helps clients achieve specific financial goals while providing continuous, personalized support.For coaches, a well-structured program means better planning of time and income, stronger client relationships, and increased confidence in coaching abilities. We’ll also spotlight the importance of truly believing in your program’s effectiveness and confidently presenting it to clients.Listen in for practical advice on tailoring your program to different client types and keeping the focus on key outcomes. This the next step in your guide to creating a coaching experience that's impactful for clients and profitable for your business.

Starting a new career can be a challenge. In many instances, we have the opportunity to learn from a mentor or manager who can guide us in the right direction. And while I serve as a mentor for financial coaches, few have actually experienced or witnessed a financial coaching session. So I was thrilled when a member of our online community agreed to allow me to record a coaching session as I coached her around a financial decision she was trying to make. See, she had asked for input from our online community but received so many different responses she was actually further from a decision than before.I hope you’ll tune in to this bonus episode and hear how we walk through Lydia’s decision. I share a bit of what pre-work I did before the session and why I approached the session like I did. Please pardon the audio quality; this is the first of what I hope to be a number of examples of what a coaching session looks like in real time.